According to Chinese trade publications, both parties signed a
memorandum of understanding in Paris on Saturday, pledging to “leverage the
respective expertise and international reach to explore innovative ways to
collaborate.”

“Together, our two companies will explore joint initiatives to
accelerate the local and international underwear business and ultimately
support companies and brands accessing and thriving in the Chinese market,”
said Anita Lu, vice president of Tmall Fashion.

According to industry analysts, the rise of the Chinese middle class has
turned a strong boon for the apparel market, as Chinese consumers find
themselves with higher purchase power and progressively become more
selective in their fashionable choices.

According to Euromonitor, China’s retail undergarment market is likely
to reach 33 billion dollars by 2020, an estimated 32 percent jump from 2017.

The Tmall Fashion-Eurovet partnership will also allow trade-show
participants to harness Tmall’s insights to better engage with Chinese
consumers, streamline the shipping and logistic process, improve
supply-chain management and communicate with their local partners, said
both companies. The ultimate goal of the agreement is to enable foreign
brands to run a smoother and more efficient operation in China.